Circle Discloses 5% Workforce Reduction in Nov. 4 Filing

Circle disclosed in a filing dated Nov. 4 that it had reduced its workforce by about 5%, marking a completed staffing change at the company that issues USDC.

The percentage describes the scale of the reduction relative to Circle's workforce: roughly five out of every 100 employees. It measures a staffing change, rather than a change to the quantity of USDC in circulation.

Circle also reduced staffing in December 2024, when cuts affected fewer than 6% of employees, and made a smaller workforce reduction in July 2023. The latest rate is slightly below the figure associated with the December 2024 cuts.

The Nov. 4 disclosure is the latest of the three workforce actions, spanning July 2023 to November 2026. Circle's filing describes the current reduction as completed, not as a future plan. The reported figure is approximate: the company put the change at about 5% of its workforce in the Nov. 4 filing.